Article Table of Contents Key Provisions in a Postnuptial Agreement Reasons for Creating a Postnuptial Agreement Your Georgia Postnuptial Agreement Lawyer Return to Knowledge Center

What is a Postnuptial Agreement?

A postnuptial agreement, often referred to as a "postnup," is a legally binding contract entered into by a married couple after they have already tied the knot. A postnuptial agreement is similar to a prenuptial agreement, but it is created and executed after the marriage has already taken place. This agreement outlines the rights and responsibilities of each spouse regarding the division of assets, debts, and financial matters in the event of a divorce or death.

Key Provisions in a Postnuptial Agreement

Like a prenuptial agreement, a well-drafted postnuptial agreement typically addresses the following aspects:

1. Division of Assets and Debts: The agreement outlines how assets, such as real estate, investments, and businesses, as well as debts, will be divided between the spouses in the event of a divorce or death.
2. Spousal Support (Alimony): The postnup can establish the terms and conditions for spousal support, including whether it will be paid, the amount, and the duration.
3. Separate and Marital Property: The agreement defines which assets and debts are considered separate property (belonging to one spouse before the marriage) and which are marital property (acquired during the marriage).
4. Financial Responsibilities: Postnuptial agreements can outline the financial responsibilities of each spouse during the marriage, such as contributing to household expenses or maintaining separate finances.
5. Estate Planning: The agreement may address estate planning matters, such as the distribution of assets and inheritance rights in the event of one spouse's death.

Reasons for Creating a Postnuptial Agreement

There are several reasons why a married couple may choose to create a postnuptial agreement, including:

1. Changes in Financial Circumstances: A significant change in the financial situation of one or both spouses, such as receiving an inheritance, starting a business, or acquiring substantial assets, may prompt the need for a postnuptial agreement.
2. Clarifying Expectations: As time passes and circumstances change, a postnuptial agreement can help clarify the expectations and responsibilities of each spouse, reducing the potential for future conflicts and disputes.
3. Protecting Assets: Much like a prenuptial agreement, a postnuptial agreement can protect the individual assets and financial interests of each spouse, particularly in cases of significant wealth or family businesses.
4. Addressing Existing Conflicts: If a couple is experiencing marital difficulties or conflicts related to financial matters, a postnuptial agreement can help resolve these issues and provide a clear path forward.

Your Georgia Postnuptial Agreement Lawyer

At The Cherry Law Firm, our experienced family attorneys understand the complexities involved in drafting and negotiating postnuptial agreements in Georgia. We provide personalized legal guidance and representation to ensure that your interests are protected and that the agreement accurately reflects your wishes and financial circumstances.

Our team will work closely with you and your spouse to understand your unique situation, identify potential risks and opportunities, and craft a comprehensive postnuptial agreement that addresses all relevant issues. We also ensure that the agreement complies with all applicable state laws and regulations. Contact us today to schedule a consultation and learn more about this important agreement.